The daughter of a Russian billionaire has purchased an NYC apartment for a whopping $88 million, setting a record for the highest individual transaction in New York City history.

The 6,744-square-foot apartment was owned by former Citigroup chairman Sandy Weill, and was reportedly purchased at full market asking price by 22-year-old Ekaterina Rybolovleva.

Her official representatives released a full statement to Forbes.com saying, “A company associated with Ekaterina Rybolovleva, daughter of a well-known businessman Dmitriy Rybolovlev, has signed a contract to purchase an apartment at 15 Central Park West, New York. The apartment is a condominium currently owned by the Sanford Weill Family.”

The statement goes on to say that Rybolovleva is “currently studying at a US university. She plans to stay in the apartment when visiting New York. Ms. Rybolovleva was born in Russia, is a resident of Monaco and has resided in Monaco and Switzerland for the past 15 years.”

Representatives would not disclose the university where Rybolovleva is studying.

The apartment sports 10 rooms and a wraparound terrace of over 2,000 square feet. The sale works out to be about $13,000 per square foot.

The New York City record had previously been set before the crash of the stock market by investor Christopher Flowers, who paid $53 million for a townhouse at 4 east 75th Street. He sold the property on Aug. 15 for a little over $36 million. Also, Russian composer, Igor Krutoy, paid a record $48 million in March for a condo at the Plaza Hotel.

Dmitriy Rybolovleva, the buyer’s father, earned his wealth while he held majority stock in the fertilizer business, Uralkali, which he sold for $6.5 billion in 2010. In 2008, he purchased Donald Trump’s Palm Beach mansion, Maison de L’Amitie, for $95 million in cash, $25 million less than Trump’s asking price.

The apartment photos can be seen on broker Brown Harris Stevens’ website: www.bhsusa.com.